Recently, cotton importers and traders in Qingdao, Shanghai, Zhangjiagang and other ports have feedback, and the contracted shipments of bonded and spot and far-month shipping Australian cotton, Indian cotton and Brazilian cotton have slowed further since last week, especially S-6. The arrival and storage of Indian cotton in J34 and MCU5 were significantly higher than the shipments, resulting in a continuous increase in the bonded inventory of foreign cotton.

A large international cotton merchant said that it is expected that Qingdao bonded cotton stocks will close to 300,000 tons at the end of March, which is comparable to that before the Spring Festival. In mid-April, a certain amount of Indian cotton will be poured into China's main port, so bonded inventories. There is a high probability of creating a new high in 2018/19.

According to the survey, as the bonded warehouses of Shanghai and Zhangjiagang have continued to decline (as of March 5, Zhangjiagang's bonded cotton stocks fell to 23,000 tons), Qingdao Port's foreign cotton arrivals and warehousing prices have continued to rise, so some trades It is estimated that by the end of March, Qingdao bonded cotton stocks will account for 70-80% of the total ports in the country, and Indian cotton, Brazilian cotton, Australian cotton, American cotton and West African cotton account for more than 90%.

From the feedback point of view, the ICE cotton main contract broke the 75, 77 cents / lb and other integer mark (May contract since mid-February May contract low 71.03, high point 77.59, an increase of 9.24%), US cotton, Australia The prices of foreign cotton such as cotton and Brazilian cotton continued to rise and the domestic textile enterprises and import enterprises continued to slow down their purchases in February. In addition, the 1% cotton import quota was basically used by themselves, and the quota cost was higher. Therefore, small and medium-sized cotton traders entered the market. More difficult.

A cotton-related enterprise in Qingdao said that due to tight quotas and the Sino-US trade agreement has not yet landed, there are only two options for middlemen who do not have quotas: one is to use US dollars to receive goods from foreign companies and large import enterprises, and the purchasers must bring their own quotas; Second, from the textile enterprises, importers in the hands of the renminbi directly to the customs clearance of cotton. From the current point of view, these two roads seem to be difficult to go. Traders believe that the risks are high and the profits are low. Therefore, it is hoped that the relevant departments will consider that there is still a poor price difference between domestic and foreign cotton, the pressure of domestic high-quality high-grade cotton supply in 2018/19, the need to meet the needs of textile enterprises to reduce costs and enhance competitiveness, and to increase the import quota and processing cotton import quota as soon as possible.

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